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To: gladman who wrote (1346)	9/4/2007 4:00:46 PM
From: Real Man	Read Replies (1) \| Respond to of 1718

No. The point is, this market only cares about liquidity and the Fed, nothing else. It is not discounting anything, nor does it care about the current credit crunch, recession, etc. Only the Fed's response to the credit crunch, liquidity injections, which are bullish. A highly speculative market, which can and will go up until it simply crashes. It's an echo 1999 bubble, only worse, which is not confined to tech stocks. The Fed is fully devoted to blowing the stock bubble, as a full parade of officials appeared only after a 5% decline.